In Reply to: We had to pay the hell hole posted by Colleen on Wednesday, 26. May 2010 at 22:46 Bali Time:
The xe.com rates that they display - are what they call "mid rates" most banks "selling rates" are often 2-3cents less.
You will only get xe.com rates if you make the TT transfer through xe.com
If your paying for accommodation, you are usally better off emailing your hotel directly and asking them to quote your accommodation in IDR based on that days exchange rate - once you have agreed on the price, then you can email them with your credit card details.
Not only does it save the $20odd dollar fee you have to pay from your bank for sending for a TT,you will not get stung by multiple banks, and you will also only have to pay a conversion fee once (from IDR to AUD) and this rate will end up being determined by whoever the "credit" function on your card is supplied by (eg Visa or Mastercard etc)
I have always found Visa and Mastercards exchange rates for purchases to be very close to that of xe.com
Do note though, that this only applies to paying accommodation or a business in Bali etc.
If you were sending cash as a gift for example, it wouldnt work - as the person on the receiving end would not have a credit card machine to process your card.